Some people have put their search for a home on hold because of all the volatility in the economy right now, yet others have not. According to ShowingTime, the real estate industry’s leading showing management technology provider, buyers have started to reappear over the last several weeks. In the latest report, they revealed:

“The March ShowingTime Showing Index® recorded the first nationwide drop in showing traffic in eight months as communities responded to COVID-19. Early April data show signs of an upswing, however.”

Why would people be setting appointments to look at prospective homes when the process of purchasing a home has become more difficult during the “shelter-in-place” orders throughout the country? Here are three reasons for the uptick:

1. Some people need to move now. It may be due to a death in the family, a new birth, divorce, financial hardship, or a job transfer, some buyers need to make a move as quickly as possible.

2. Real estate agents across the country have become very innovative, utilizing technology that allows purchasers to virtually:

  • View homes
  • Meet with mortgage professionals
  • Consult with their agent throughout the process

All of this can happen within the required safety protocols, and real estate professionals are continuing to help buyers make a move even in this difficult time for us all.

3. Buyers understand mortgage rates are a key component when determining their monthly mortgage payments.

Mortgage interest rates are close to all-time lows. These historically low rates afford today’s purchaser the opportunity to save tens of thousands of dollars over the lifetime of the loan. There’s a big financial difference between purchasing a house last December and purchasing one now (see chart below):

Bottom Line

Many buyers are deciding to not postpone their plans to purchase a home, even in these difficult times. And sellers can still find someone to buy their homes safely knowing the process will be safe. If you need to make a move, let’s connect today so you have a trusted advisor to safely and professionally guide you through the process.

“How can I help you today?” Even if you are not planning a real estate purchase or sale soon, I want to help you in any way I can with your present situation. Check out our home value analysis for the specific possibilities on your home, and check out our recent Market Update for your area to give you a general look at what’s happening in your city.

I appreciate you looking us up, and letting us be your information source for anything you may have a question on or need help with. We love people, and we love properties. Just reach out and call us at (503) 799-8354 to get answers to your questions.

Cheers,

Michael Jester
Oregon Licensed Real Estate Broker
My Real Estate Advisor Team
Powered by eXp Realty, LLC

(503) 799-8354 Direct
michaelj@myreateam.com
2210 Mission St SE, Suite 250
Salem, OR 97302
www.myreateam.com